How Denmark’s national bank card is about to change

By this autumn, Denmark’s national debit card Dankort will be available on smartphones, according to a report from Berlingske Business.

How Denmark’s national bank card is about to change

But that will not be the only change. Nets, the company behind Dankort, may also be on the verge of dropping its ties with Visa.
According to the Berlingske report, Nets has opted not to use Visa’s mobile technology but has instead entered into a new agreement with the Japan-based payment network JCB.
Nets expects that roughly half of all Dankort payments will be made via phone in just four years and the company’s senior vice president said that JCB is “the strongest partner” for the digital future.
“We see this as an important step toward securing the future of Dankort, which needs to follow mobile developments and remain at the forefront. At the same time we have to make sure that Dankort is the cheapest and most effective payment solution around,” Jeppe Juul-Andersen told Berlingske Business.
A payments expert told financial daily Børsen that dropping Visa for mobile solutions was “highly surprising”.
“This means that Visa’s interest in the cooperation will decrease over time. In the short term this might not unleash a large credit card war on the Danish market, but in the long run there will without a doubt be more cards that the Danish banks can choose between,” Henning N. Jensen said.
Dankort’s mobile solution is expected to be rolled out sometime in the autumn. For many consumers this might not present a huge change, as Danes are already increasingly paying for everyday purchases with their smartphones using solutions like Danske Bank’s Mobile Pay app. Having the national debit card on one’s mobile device is a technological advancement that many Danes have eagerly been waiting for.
-more at The Local
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